GH¢100 million has been paid to Buffer Stock out of a total debt of ¢203 million - Agric Minister

The Minister of Food and Agriculture has disclosed that an amount of ¢100 million, representing half of the total debt owed to suppliers amounting to ¢203 million, was paid to their accounts on Monday, July 17, 2023.

The minister, Bryan Acheampong, has assured that 50% of the balance owed to Buffer Stock Company will be disbursed by the end of Wednesday, July 19, 2023.

During a parliamentary session on Tuesday, the minister emphasized the significant business conducted by the Buffer Stock Company with food suppliers over the years, amounting to ¢2.7 billion.

He outlined the payments made in each year, highlighting that payments were fulfilled in full from 2017 to 2021.

In 2022, however, only ¢500 million out of ¢726,617,881 owed was paid, leaving an outstanding balance of ¢203 million.

Last week, the ministry received ¢100 million, constituting 50% of the amount owed to the suppliers, and subsequently transferred it to the Buffer Stock Company.

The minister assured the suppliers that the remaining 50% will be disbursed by August 17, 2023.

Members of the National Food Suppliers Association have suspended picketing at the National Food and Buffer Stock Company (NAFCO).

This comes after a payment assurance from the Minister of Agriculture, Bryan Acheampong.

The food suppliers had pitched camp at the premises of the Buffer Stock Company since earlier this month, demanding payment of 270 million cedis owed them.

YNA/OGB